Tag: #ContinuousImprovement
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The Risks of Shadow AI and How to Manage Them
‘Shadow AI’ refers to the unauthorized use of AI tools outside an organization’s control. Many AI tools are being used without the permission of company management. Companies should not allow ‘Shadow AI’ usage due to significant risks and potential consequences.
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Risks & Inefficiencies of Not Fully Integrating Acquired Companies
When a company acquires or merges with another company but fails to fully or properly integrate its tools and processes siloization occurs. Poor communication and decision-making during these integration efforts often lead to increased business risks and inefficiencies from what is called siloization. Siloization is often the outcome of poorly executed or incomplete integrations of…
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How Integration of Data Catalogs With Risk Registers Enhance GRC Efforts
Data catalogs and risk registers are integral components of Governance, Risk, and Compliance (GRC) frameworks. Each serves distinct yet complementary roles in managing organizational risks and ensuring compliance. While data catalogs focus on managing data-related risks through visibility and compliance measures, risk registers provide a structured approach to cataloging and mitigating broader organizational risks. The…
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How to Get Started with Risk Registers (aka Logs) from Ground 0
A basic centralized risk management tool like the risk register tool described can go a long way in enabling business success and continuity with little investment. Using a tool like this with the appropriate processes is not just beneficial but essential for enhancing operational efficiency, ensuring compliance, reducing costs, and preparing businesses for future challenges.
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NRM WP1 Q4 2024: NRM’s Unique Approach
We are excited to announce the release of our first white paper explaining our unique approach to Risk Management. We expect to produce a new white paper each quarter starting with this first one that explains our approach at a high level. Future white papers planned will go deep with each of the contributing factors…
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Best Practices for Establishing a Data Governance Council
Creating an effective Data Governance Council is essential for managing data assets and ensuring compliance with regulations. Here are best practices for creating a Council along with a list of good reasons to do so.
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Addressing the Increasing Needs of Third-Party Risk Management (TPRM)
The risks third-party entities pose to the organization can include operational, financial, reputational, and compliance risks. Every business with third-party vendors should define a TPRM strategy.
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Flow Engineering Leverages Complexity Science to Better Manage Risks
The recently emerged Flow Engineering approach integrates Complexity Science to enhance the design and management of complex systems, particularly in environments where multiple variables interact dynamically. While Flow Engineering encompasses various techniques and methodologies aimed at enhancing flow within systems, it is best understood as an overarching approach rather than a singular method. Flow Engineering is…
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What is Nimble Data Risk Management?
GRC stands for Governance, Risk, and Compliance, a new acronym being heard much more frequently lately. A GRC framework is a model for managing all compliance and governance risks in a company. Too often GRC and corporate governance in general have been unwieldy high overhead activities. Nimble Data Risk Management (NDRM) has evolved to bring…
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Hidden risks lurking in technical debt
It is common that technical debt in its various forms is hidden within any system. Known or not tech debt often gets brushed aside in favor or other work that is more easily quantified and valued. Typically, there are many excuses as to why we must endure those that we know of or remain oblivious…
